J U D G M E N T

: REVA KHETRAPAL, J.

1. This Appeal under Order XXI read with Section 10 of the Delhi High Court Act, 1966 is directed against the order dated 29.7.2009 passed in Execution Petition No.242/2008 and order dated

7.8.2009 passed in E.A. No.415/2009 in Execution Petition No.242/2008.

2. Shorn of unnecessary details, the facts are that an award dated 23rd September, 2000 was made in the dispute between the Decree Holder (Respondent herein) and the Judgment Debtor (Appellant herein). The Arbitrators by a majority of 2:1 awarded the following sums to the Respondent:-

“In view of the above decisions, this Tribunal (by majority) awards that the Defendant (NRL) shall make the following payments to the claimant (DIC) within a period of two months (60 days) from the date of receipt of the award:

1) The sum of Rs.29.76 Crores.

2) Interest pendente lite on the amount of Rs.29.76 Crores with effect from August 7, 1997 to the date of this Award at the rate of 12 per cent per annum.

3) The amount of US$ 170,000.

In the event of failure on the Defendant (NRL) to pay the above awarded amounts under (1), (2) and (3) within the stipulated period indicated above, the Defendant (NRL) shall make f